To be honest, I´m in the Maintenance & Construction for corporate businesses for some US companies in Mexico and we do some Real Estate down here also, but it´s way much different than the US, so I have much to learn from a lot of people around here and as @Julio Gonzalez, I think this is pretty much the right pad and place to start and to break my fears to start all over again from scratchAlso, I´ld like to hear more from @Justin Brickman why he voted for his city, pros and cons, it will help to read from a local...As I said before, thank you all guys for taking the time to write in this post and share some experienceDo you plan to owner occupy. $40k will not get you a non owner occupied San Diego property unless you find some unlikely alternate financing.

We didn't buy much from the MLS and if we did, it was either a "handyman special" or it had been on the market 180+ days with a motivated seller willing to take less than market value.This will be the "new normal" going forward and a lot of newer investors will drop out of the acquisition market and just hold what they have.

And as far as legal—an attorney becomes essential once you're ready to finalize terms with either an HML or private lender to make sure everything’s secure.Hope this helps!

This Penalty is applicable to both a refinance and a sale.

STR is a hospitality business first, and a for-profit business second (if you want to succeed).

Since I’m still in school I don’t have much money, I’m trying to learn as much as I can about real estate so that way once I get a job out of college and a steady income I’ll know what to do with my money.

The cheap houses are tempting; however, if we're on the other side of the greatest run up in home price appreciation in my lifetime, and a property can still be had for under $100k, the appreciation upside is going to be very limited. 

And a reminder of our appraisal and rental documents for acquisition that everyone should have access to fill in and view when doing your research. 

I've done a lot of research on this topic as both an investor and as one who assists other investors in exploring this strategy.

I have lots of experience in all types of single-family investing, small partnerships in multifamily and commercial, and a vast knowledge of construction.